Third-largest whale celebrates Bitcoin’s birthday with 456 BTC buy

It has been 13 years since the Bitcoin (BTC), genesis block, was created. This marked the start of the chain. The third largest Bitcoin whale is back, after the New Year holidays, and has just made the first large purchase in 2022.

According to Bitinfocharts data, the third-largest Bitcoin account added 456 BTC on Jan. 4. This is equivalent to approximately $21 million. com.

456 #BTC (21,161,750 USD) transferred from #Coinbase to unknown wallet
— Whale Alert (@whale_alert), January 3, 2022

The whale currently holds 120,845.57 BTC, which is worth more than $5.6 billion. Although the identity of the holder is unknown, it seems that the entity is taking advantage of current volatility in Bitcoin’s price. Bitcoin is currently trading at $46,603. It has fallen 1.7% over the past 24 hours, and 8.9% in the last week.

Related: Happy birthday, Bitcoin! A few words from industry players

The bearish factors that weighed on the cryptocurrency market in 2021 continued to be present throughout the first week 2022, after Bitcoin’s price dropped below $47,000 on January 1. It continues to face strong headwinds for shorter timeframe charts.

Many investors are still optimistic, despite the current difficulties Bitcoin is facing. This chart was shared by GalaxyBTC, an analyst and pseudonymous user on Twitter. It shows a possible breakout in the first quarter 2021.

Chart of the Bitcoin/Tether prices for 14 months Source: Twitter